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meningitis. >> baltimore city and county people can get their taxes done free. >> winter weather advisory. was a morning to the north. -- blizzard warning to the north. >> the case of bacterial meningitis at loyola -- at loyola university's night. an undergraduate did was diagnosed today and taken to hospital for treatment -- an undergraduate student was diagnosed a day and taken to hospital for treatment. this dude was listed in serious but stable condition. twitter -- the student was listed in serious but stable condition. twitter, facebook, youtube -- school officials believe it will serve as a vital tool to enhance education, communication and learning. it would prohibit communication between students and staff but the district says there is little doubt about how social media would benefit the classroom. >> we will look at unblocking social media sites to use them for instructional purposes. >> this is only the first reading on the social media policy. if it is approved by the school board, it would go on the books this fall. >> it is time to start thinking about filing taxes again.
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that ends this governance by crisis. >> the president wants fewer cuts and more tax revenue. that's the same argument he made during the fiscal cliff talks with republicans late last year. >>> a new push in maryland, it's aimed at preventing the long lines during early voting. today the house ways and means committee is considering a bill to increase the number of early voting center. last fall some voters stood in line for hours just to vote early. until this new proposal, even county would get more voting locations officials would ultimately decide where they go. governor o'malley is also pushing to increase the number of early voting days from six to eight. >>> a news4 exclusive tonight. metro is testing the tracks for the silver line. we're getting the first and only look before riders hop aboard. >>> people love the redskins, but a lot of people don't love the name. we'll talk about a new push tonight for change. >>> plus an explosion at this deli shop. tonight there are new developments about the man hurt. "news4 at 5" is just getting started. >>> a news4 exclusive tonight, a look at t
't be the worst thing in the world because it may be the best we can get without tax increases. they're done talking about taxes. >> they say they're done. the president will say again he wants a package of spending cuts now and a bigger negotiation he wants more revenue or tax increases. this is the president's way. he's beginning his second term. last thing he wants is disruption in the economy in the psychology, financial markets to set his second term off when he thinks things are growing. how much is baked into the marks, if you will? do they expect the sequester, as more people in washington say it's -- let's listen to the president. >> good afternoon, everybody. i want to say a few words about the looming debt lines and decisions that we face on our budget and on our deficit. these are decisions that will have real and lasting impacts on the strength and pace of our recovery. economists and business leaders from across the spectrum have said that our economy is poised for progress in 2013. and we have seen signs of this progress over the last several weeks. home prices continue to cli
of the victims. >> reporter: tax season is here and so is the w2. if there is a headline, go check our mailboxes before someone else does. >> reporter: this quiet street lined with mailboxes had a recent visitor. >> a knock at the door that never happens. >> reporter: on the other side of the knock was a police officer. >> in his hand was my w2. he arrested a gentleman that -- for a different reason and in his bag was w2s. >> the ir "s" announce -- irs announced a sweep targeting dozens of suspects. it ended with 109 arrests and 189 indictments. he said as tax season begins, there is a heavy price to pay for pertraitors. >> when you -- perpetrators. one of her neighbor's statement got ripped off. within a day $4,000 was charged. the neighborhood feels violated. >> absolutely. because now i am going can someone open a checking account in my name, a credit card, can they file taxes under my name. >> reporter: the surgent didn't return my call about this case, residents here in the same neighborhood told me an officer was returning stolen documents to some of them last night. live, mike mibach, kt
address. we look at what is behind the numbers and a potential sales tax increase that may be looming on the horizon. >> reporter: mayor spent a good part of the speech talking about the police department. he would like to see more officers added to the force. there are fewer officers than in past year. and the investigative unit dug up numbers showing it sky rocketing. >> they are working hard. >> reporter: he knows the police are working longer hours. the investigative unit exclusively obtained financial data showing while overall payroll decreased by 10% the numbers show a whopping 35% increase spent on overtime. from more than $12 million in 2011 to more than $16 million last year. he said the number may increase next year. >> we need to make sure our public is protected. overtime is the way to do that. we know you can't do that much overtime all the time. >> reporter: fewer officers on the force equal more overtime. 74% has gone to the rank and file. >> that is why we are recruiting and hiring aggressively. officers are working hard and putting in the overtime. we appreciate that
not have to pay the amt. it also changed the estate tax bumping down the rate of little bit lower than what it had been over the exception of little bit higher. the numbers we just show you, the real numbers will be much worse. we will find out at 1:00 o'clock. back to you. dagen: are we going to be in a statement from the white house at 1:15 p.m.? rich: he will talk about the sequester. he will push for congress to pass a smaller package of spending cuts and tax reform to avoid the economically harmful consequences. he wants tax increases and spending cuts. the tax issue is closed, says the republicans. dagen: thank you for that update. for more on the outlook and what the president will say this afternoon, we go to michael perrone. michael, good to see you. start with this cbo report. will it influence policy and what happens in washington and even the smallest way? >> the cbo is required to give a fictitious look forward at the budget numbers. it will be higher than projected unless other action is taken. the medicare doc fix, for example, will not go away. they have been voting in every
a balanced approach that would force corporations and the wealthy to give up some of their special tax break. and pay their fair share. >> these modest reforms in our social insurance programs have to go hand in hand with tax reform. so the wealthiest individuals and corporations can't take advantage of loopholes and deductions that aren't available to most americans. there is no reason that the jobs of thousands of americans who work in national security or education or clean energy, not to mention the growth of the economy should be put in jeopardy just because folks in congress couldn't come together to eliminate tax loopholes. >> these special interests loopholes include subsidies for the oil and gas companies. who are raking in record profits. deductions for corporate jets and yachts. and absurd tax breaks for hedge fund managers and wall street heavy hitters. fairness. it's what this election was all about. i mean, do we really want to be a country that lets millionaires write off their corporate jets but tells a single mom she can't get help buying a formula for her baby? that's not t
's paycheck went down as taxes went up. that will take $200 billion out of the economy. now you have got gas prices spiking. that's going to take even more money out of the economy just as the economy starts to slow down and contract. the timing as you said could not be worse. gregg: you are such a kill joy on a monday morning. stu varney. martha: so this spike at the pump appears to be no fluke but a part of an ongoing trend. gas prices have gone up for 18 consecutive days. 18 states have gas prices higher than the national average. they are feeling the pain of that more than the rest of the states. we are just getting started on this monday morning. gregg: ahead. a deadly chain reaction crash involving a tour bus. details on what investigators think went wrong in a live report. martha: president obama in his super bowl interview. he dropped a bit of news. he is pushing once again for increased revenues. there is only one way to get those these days when you have got an economy that's not growing. former president wash adviser karl rove is here with us next. gregg: a little boy in alabama s
to tax themselves more to pay for it? our news reporter cornell bernard is live with that story. >> the state of the city is wet today but pretty good. we sat down together to get a preview of the address. he plans to ask voters for help to john rate more revenue. >> things are getting better. >> he says they are improving despite many challenges, including a rising crime rate and creating more jobs. the mayor will talk about plans to support police services and restore pay to worker whose took cuts to help balance the budget in recent years. to do that a sales tax increase is needed. >> we have to go to the ballot to get permission. that would be in 2014. it depends on the voter support. we have done some polling. the voters think we are moving in the right direction. >> that poll shows 70's percent of voters may support a quarter percent sales tax increase but only 57 percent favor half a percent high. and a worker at a maintenance worker that contracts with the city likes anything that will help keep his job. >> another tax hike could be a tough sell. >> people reach fatigue
revenue is needed to bring down the deficit but believes it can be done without another tax hike. speaking to cbs news anchor scott pelley yesterday, the president said the u.s. can reduce its deficit by closing tax loopholes and making what he calls smart budget reductions. >> if you combine those things together, then we cannot only reduce our deficit, but we can continue to invest in things like education and research and development that are going to help us grow. >> well, today the president travels to minneapolis where he'll push for proposals to gun control durs his visit. susan mcginnis is in washington. good morning. >> good morning. this will be the president's first trip outside washington to push his gun proposalproposals. he's pushing for a big rally in support of this. in the meantime the senators are said to be preparing their own legislation very similar to the president's employee posal but conspicuously absent is the assault weapons ban. he takes his pitch for gun safety to minneapolis today. he wants congress to require universal background checks, limit how many bullets
and the security measures include heat sensitive ink and art work. >> counterfeiters do not pay taxes or health care or provide pensions, they are criminal organizations. they are criminal parasites making money off of the hard work and innovation of others. >> during the operation, authorities have arrested 23 people in connection with sports merchandise counterfeiting. in new orleans for abc7. >> the coast guard and the national park service will be joined to educate dog owners of beach safety as part of the awareness campaign. there have been five drowning deaths at bay area beaches since november. in each case, the victim had their dog with them and some of them jumped in the water to save the pet at a wave swept them in the ocean. officials want to educate dog owners on hazards including what to do if their pets get swept to sea and how to swim out of a rip current. >> in sonoma, health officials are investigating the first confirmed rabid cat case in the county in 16 years. the domestic cat bit someone in glenn ellen and that person received a rabies shot. officials say the incident highl
taxes. now a preview of that. >> the mayor will build his state of the city address around a word that normally no one wants to hear, taxes. tonight, the mayor 8 call on community leaders to organize a campaign for city seals tax -- sales tax to restore money to city workers who took cuts. residents are willing to pay new taxes with 70 percent support for a .25 sales tax increase and 57 percent for half a cent sales tax increase. the earliest this would be on the ballot is next year. folks here in san jose have voted four times to aprove sales tax increases since the mayor has taken office back in 2007 and it is not clear if another will fly. we will find out tonight when the mayor makes his state of the city address tonight. >> right now we have breaking news to tell you about in southern california. three police officers have been shot, two in riverside and one in corona. this is over riverside where the police department says an officer was killed. reports say the shootings could be related to a suspect wanted in connection of a double murder in irving. this has gotten a lot of
all of our revenue from the sale of postage. we take no tax dollars. we do not want tax dollars. >> zero. zero tax dollars. in other words, you're not getting shafted. now let's just make sure that we're all clear on this issue. the post office receives, again, as i said, zero tax dollars for operations. it's run as an independent agency. postal employees are civil servants. it's the only institution in america that has been forced to prefund for 75 years a pension plan in a ten-year window. it would have a $1.5 billion surplus in 2012 without this pension requirement. do we get that, folks? this is government intervention by the republicans before they handed the gavel to nancy pelosi. and this is what they stuck the workers with. they want to destroy the post office because they want to privatize everything. today i guess you can say is chapter one, where is the banner, mission accomplished for the republican destruction of the middle class in this country. now, congressman darrell issa, who he just loves the news. he called it common sense-sense reform. of course it's common
in their paychecks because of this payroll tax. >> that is a real concern, right? so americans are continuing to feel the pain of the economic recovery being very slow. the bottom line is the bureau of economic analysis said the shrinking economy is a cause by a reduction in government spending. so the president is drying to say look we have to get stimulus into the economy. we need to get everyone back to work. that is caused by more spending not less spending. >> the democrats have proposed you cannot spend your way into prosperity. nor you can't tax people into prosperity. what you need to do is let the free markets take control. and basically in washington, d.c., we have bigger government. the president appointed 32 czars. what are those czars doing? >> czars is just a shortening of their actual title which is normally long in the federal government. i think that bureau of economic analysis saying that the cause of the shrink damage is due to the reduction in spending that's something we need to look at. >> we have reduced spending. >> talking about they are happy to hear the president talking ab
change, immigration, gun control and taxes. mr. obama joked on monday about how tricky it can be to get things done. >> if there's one thing that i've learned over the last four years it's that you can't count on anything in washington until it's done. >> reporter: republicans believe that senate majority leader harry reid has been effective in shielding his members from some tough votes on items such as the budget but we've been assured there will be a budget this year so that unity and enthusiasm may be tested early. jenna? jenna: if you had a nickel forever time --, no. we would all be really rich. that there would be unity on capitol hill. we've heard some from the senate democrats about some of the issues they're worried about ahead. what have you heard within the halls of capitol hill? >> reporter: jenna, gun control is a prime example in places like new york, new jersey, california. gun control is popular. but harry reid also has democratic members from places like west virgina, arkansas, louisiana, and alaska where gun control can be dirty words. here is senator reid speaking re
family budgets manage before you even take out taxes you have 4% for severally getting around? >> the average median income for families in america is about $50 $51,000. there's not a lot of extra room, especially given the fact that the economy is not growing, people aren't anticipating wage increases. it's really tough out there if you're a family of four and you're trying to make do. >> shannon: how does this have a ripple effect because it's not just, you know, us going out to fill up the gas. i mean, it's the truckers who have to deliver products and food and that kind of thing. where does it show up e elsewhe? >> it shows up in food we purchased, manufactured goods. when we go to shopping i sisters to buy children's apparel, everything gets to us through vehicles with gasoline. >> shannon: there's plenty of criticism for this particular administration that it could have done more to work on domestic energy production. when you have somebody who sits as a cabinet member who said before being nominated that somehow you have to boost the price of gasoline to the levels in e
-term spending cuts and tax revenues to delay automatic spending cuts. those cuts are scheduled to kick in march 1st. mister obama says the nation should move forward with a broad package for tax reform and spending cuts. but if congress can't act before the deadline. lawmakers should at least pass a small package to fend off damaging effects that would be felt across the board. >> our economy is headed in the right direction right now. >> pam: president obama says the proposals he offered house speaker john boehner late last year during discussions over the so- called fiscal cliff are still on the table. however -- boehner says additional tax hikes are out of the question. >> pam: we're learning more about the gunman -- jimmy lee dykes -- who kidnapped a five year old boy. and held him hostage for nearly a week in an underground bunker in alabama. here are new photos released by the f-b-i showing photos right outside the underground bunker. the f-b-i says dykes was involved in a firefight with swat agents before he was killed during operation. bomb technicians also found two explosive devices o
in riverside, the entire state of california is on a tax cal alert and a navy base is on lock down. he had a hotel there as late as wednesday. adam housle yeshgs. >> more details from this man hunt. >> the officers mistakenly shot two women2 women delivers papers. >> police call it a case of mistaken identity. >> he was fire from the los angeles police department back in 2008 for making false statements. >> in a lacy manifest o, we found on his facebook page, he names former la police chief, now a consultant. bratten and courter opposed if are this photo, but he says he doesn't remember the former officer. >> i don't recall him. as distinctive as he looks, and i don't recall the specific set of circumstances for which i fired him. >> he sent him a coin given by bratton to cnn news center. it had 3 bullet holes in it along with a note that read thanks but no thanks. >> they issued a blue alert for dorner. the blue alert is subject to an amber alert. this is the third such alert since the system sufficiency established 2 years ago. go to ktv are u.com under the la man hunt tab -- ktvu. >> we
clear tonight that money is still very tight so he's making a plea to supporters to help hike the taxes. he was greeted with a standing ovation. >> come on let's get on with this. >> reporter: and so he did. chuck reed delivered his seventh state of the city address tonight in front of a who's who of silican valley at the civic auditorium. he vowed to open more closed libraries and work to keep employees. in recent years thousands have been let go or they've left for other jobs. >> nowhere is this more apparent than our police officer. >> reporter: mayor reed says the city will hire 200 more officers. saying 15 have already been hired and more are in the works. to fund improvements, reed suggested a tax hike. 70% of people would support a quarter cent tax increase. >> possibly go to the voters for a tax increase in 2014 but success cannot be assumed. >> reporter: reed was successful in getting voters to pass measure b last year which reformed pensions. but his battle with the unions is far from over. the afl-cio says that the mayor needs to reach across the aisle much more. >> he has ta
is still very tight so he's making a plea to supporters to help hike the taxes. he was greeted with a standing ovation. >> come on let's get on with this. >> reporter: and so he did. chuck reed delivered his seventh state of the city address tonight in front of a who's who of silican valley at the civic auditorium. he vowed to open more closed libraries and work to keep employees. in recent years thousands have been let go or they've left for other jobs. >> nowhere is this more apparent than our police officer. >> reporter: mayor reed says the city will hire 200 more officers. saying 15 have already been hired and more are in the works. to fund improvements, reed suggested a tax hike. 70% of people would support a quarter cent tax increase. >> possibly go to the voters for a tax increase in 2014 but success cannot be assumed. >> reporter: reed was successful in getting voters to pass measure b last year which reformed pensions. but his battle with the unions is far from over. the afl-cio says that the mayor needs to reach across the aisle much more. >> he has taken the approach
there openly for seven years and pay all the taxes. but today officials determined it was actually trespassing. boo. so the bank repossessed the home. boo. and changed the locks. kill joy. bank of america. don't they have enough money? steve harrigan is in the south florida newsroom. still no word from loci boy though, i'm bummed. >> no, shepard. no appearance of loci boy yet. it was 1:00 p.m. when police moved in on that 2.5, a bedroom mansion. brought locksmiths with them as well. broke open that iron gate. went inside. no sign of loci boy or seven or eight people also occupying that house. they found a lot of toiletries and a real mess. they pulled that outside and bank of america now has taken possession of that house. they issued a statement which said we appreciate the assistance of local authorities and the patience of neighbors as we work to have the trespassers removed. no word on where loci boy might be. police told us this afternoon they are not looking for him and there is no warrant for his arrest. shepard? >> shepard: loci boy unwittingly a leader of others as there are copy cats
taxes could put you at risk. >>> and the history lesson for singer alicia keys from legendary poe et maya angelou. almost tastes like one of jack's cereals. fiber one. uh, forgot jack's cereal. [ jack ] what's for breakfast? um... try the number one! yeah, this is pretty good. [ male announcer ] over a third of a day's fiber. fiber one. ♪ shimmy, shimmy chocolate. ♪ shimmy, shimmy chocolate. ♪ we, we chocolate cross over. ♪ yeah, we chocolate cross over. ♪ [ male announcer ] introducing fiber one 80 calorie chocolate cereal. ♪ chocolate. >>> good morning. welcome to news 4 today. i'm angie goff. >> and i'm richard jordan. time now to check on our forecast. >> we've heard from punxsutawney phil, potomac phil, but what about nebraska avenue chuck? >> well, i can tell you one thing, we have a little sunshine out here. i'm going to ask our director to do the million-dollar shot pan down to the shadow we go. can you see nebraska chuck's shadow on the sidewalk? move around, let's see. yes, you can. it's there's. just a hint of a shadow on the storm team 4 weather deck this morn
to get at the end of the line and have a criminal background check, learn english, pay back your tax. but it can't be unattainable. it can't be so long that it's unattainable. >> well, mayor, senator rubio is proposing a path that i actually think creates a new class system of workers in this country. rubio's plan would let businesses hire lower skilled undocumented workers if americans can't fill the job openings. that's very conditional in my opinion. it's a loophole in the immigration law. it means lower skilled immigrants get a different kind of status. do you agree this plan? is this the correct path to take? >> well, as i said, i believe that there needs to be a path to earn legalization, to earn citizenship for the 11 million people who are here. >> regardless of their skills, correct? >> right. we don't want to divide the parents from the kids. we don't want to deport the parents and leave the kids here. remember, those 11 million undocumented have 5 million citizen children and a couple million dreamers. so i think that there is momentum in the senate and increasingly in the
they are also a little bit pessimistic when. asked if tax less go up on middle class americans this year, 68% said they think, yes, that taxes are going to go up. if that is the case, i mean economic activity can't be helped by that, is it, joe? >> well, no, but they are right, jon. i mean when you look at it the payroll tax that was pulled off as a way to give people a little bit more money in their pocketbooks, to buy things, and to get the kids to school, and put gas in the car, that came off. so the payroll tax is back on, and that affects everybody. i know we talked a lot during the tax issues about the upper 2%, but average americans are going to be hit by putting some of the tax breaks back on -- i mean taking them off that were on, that has happened. people are already going to start feeling that one. so i think that poll sort of reflects reality. jon: kind of interesting too, he defeated hillary clinton in the race for the nomination, four or five years ago and these days according to the polls she is more popular than the president is. does that surprise you, joe? >> no. i think, l
is the biggest obstac toll private-sector job growth in america right now. he seem, to we can tax, spend and regulate ourselves to prosperity. the private sector is asking for certainty. because the president doesn't want to pass a budget or modernize spending for bietlements. he is the big issue. it is up to him to take a long look in the mirror. i agree that congress has played a role. he needs to stop worrying about destroying republicans and start worrying about growing the economy. >> eric: joe, is that true? is he the biggest obstacle? >> the president is the steward of the overall economy. but both leaders of both parties have to look themselves in the mirror and they do -- look. there are two issues to focus upon, very pragmatic. the first is the star runningback. small businesses. a few years ago, we us to have 36 new small businesses that create 60% of all new jobs for every 10,000 citizens. today, we have 18, exactly half new businesses starting up each year. we should relieve small businesses of tax costs, they create the jobs for the spectators in the stadium. number 2, the
at 2:00 p.m. pacific. one would treat-mile-an-hour like alcohol and create a federal tax. the other end would end federal marijuana prohib his and let the states -- prohibition and let the states set their own policies and the growers would have to obtain a permit and it would be illegal to take marijuana to a state where it's illegal. i just wrapped up an interview with one of the group's members. we'll hear from him when i see you next. kyla campbell, ktvu channel 2 news. >>> 7:17. a director is reportedly eyeing the town of ridgefield, connecticut to make a film related to the sandy hook school masser is. richfield is about 20 miles -- massacre. litchfield is about 20 miles away -- richfield is about 20 miles away from sandy hook. this has upset a lot of richfield residents. town officials say they would reject filming permits for the project. but so far, the director has not contacted them. >>> five firefighters are in the hospital in baltimore. they were hurt last night battling this huge fire at a lumber company. witnesses say the firefighters were trying to evacuate the building
tax of 51.9%. and you guessed it, it is the highest in the nation. one saving grace for the moment, californians can deduct state tax from federal returns. >>> up next, your "early today" sports highlights. plus, meet a nasty nanny whose pension for slapping this kid just got her slapped by the law. >>> and now to some other stories that caught our eyes this morning. in new york, disturbing video shows a nanny slapping a 9-month-old for not eating. when the mother saw what was going on, she rushed home .fired the caretaker who has been charged with endangering the well fare of a child and resisting arrest. >>> in texas, 22-year-old grad student and chicken farmer has grown so close to his flock over the years, he's known around as chicken boy. he's handled the chickens for so long, he's even picked up the language. >> it's like i just laid an egg in this box, come lay your egg. and it's -- >> the chicken boy plans to go and continue his education so he can some day become doctor chicken and that's going to be interesting. >>> a fatal pileup on a georgia highway left four dead and 2
, and it is short -- 2003 was just ten years ago commanded seems like yesterday. in ten short years either taxes will have to go way up or the promise of social security and health care will have to come way down. you are a baby boomer or your parents are boomers. i hope you're not really counting on these programs to take care of you in your old age . melissa: that definitely was not end them not. be sure to watch the tom sullivan show this weekend. you can catch it on seven and 10:00 p.m. on saturday and sunday, 7:00 a.m. and 7:00 p.m. eastern time on sunday. happy friday. thank you for coming on. watch out for this note. happy birthday. you will see you back here monday. ♪ gerri: hello, everybody. i'm gerri willis. tonight on "the willis report". the housing market and recovery. tonight the real realist a story. despite hundreds of regulations put into place by this administration to big to fail is still a real risk. we will tell you what it means for you and your money. and one of the biggest names in fashion. supermodel here to kick off our series of special reports. "the willis report" i
is getting better, but he still wants to raise taxes. the mayor's idea is to raise the city's sales tax. voters would have to approve it. but -- >> it now appears from our most recent survey that a majority of the voters might support another tax increase. >> in his state of the city speech tonight, reed also said san jose will be able to hire more police officers in the next years. he says money from that will come from savings on pensions. >>> have you filled up lately? you've probably noticed that gas is getting more expensive again. but this really gave us some sticker shock. yeah, you're reading that right. chico's gas station charging $5.03 a gallon for regular. gas prices have shot up almost 40 cents in just the past month. why? switching to the more expensive summer blend of fuel. >>> tonight, there are new rules of the road. new rules for drivers and new rules for motorcycle riders. you've probably seen this. motorcyclists weaving in between cars. they can do that in california. but now there are written do's and don'ts for l
of our tax money being wasted in washington. is it any way to run our government. tonight, what we have uncovered. "nightly news" begins now. >>> from nbc news world headquarters in new york, this is "nbc nightly news" with brian williams. >> good evening. here's one example of how bad it's getting tonight across the east coast tonight. in massachusetts, all vehicles were ordered off the roads at 4:00 p.m. this afternoon. that's across the entire state of massachusetts. genuine blizzard warnings are posted across a big area. this is the northern shore of massachusetts, just outside of boston, revere beach, where the winds have already picked up. we could see some history-making snowfall out of this storm. we've already seen a colossal stoppage of transportation, affecting 50 million americans before it's all over. while all this has been going on, on the other coast, we have a huge story, of course, that we've been following. more on that in a moment. but first, what could be a 30-inch snow event here on the east coast. our team is out in it, and in place tonight, we want to begin with
of taxes, i'm not that surprised to hear about buybacks down a bit in the month of january. let's move on. the big that's going to happen this year, draghi, ecb meeting. a lot of people calling for rate cuts to help out on the euro. this is part of the currency argument going on. lowering rates seems unlikely at this point. the fact that there's a big debate about it, is that the euro strength is causing problems in europe. higher valuations last week for home builders. some trading two times book value. that's a big problem for the building people right now, if you trade them, fundamentals are good. barclays downgraded four of the big home builders on exactly that. the valuations have become stretched. we were talking about this two weeks ago, folks. barclays said new home price increases are unsustainable. some of them reporting 17% increases in their prices in the last quarter. that's an excellent number. but existing home prices not moving nearly as much. i agree with that, those are unsustainably high numbers. expect them to be 4%, 5%, 6% this year. let's move on here. the new york s
.8%. >>> republicans say the latest offer is nothing new and means higher taxes. the president believes the cuts would hurt the economy and he's willing to settle for a short-term fix. >> if congress can't act immediately on a bigger package, if they can't get a bigger package done by the time the sequester is scheduled to go into effect, then i believe they should at least pass a smaller package of spending cuts and tax reforms that would delay the economic damaging effects of the sequester for faw more months until congress finds a way. >>> cbs political news director john dickerson. john, good morning. another deadline in washington, another proposal for a short-term fix without any specifics about how to do it and thousands of people facing job loss. is this about the president trying to gain the political upper hand? >> you sound tired of these skirmishes, norah. they've been going on for about two years. this is chapter 87 in a very dreary book. this is about both sides trying to gain leverage in this latest fight. what the president is trying to do what the republicans are try dochlgt put your
and pumped billions of tax dollars into solar energy. today the future looks dim as investments in green energy are beginning to dry up. >>steve: as the subsidies dry up, so does the business. because? >> there's tons of jobs and the entire industry is relying upon these billions of dollars, and we know where those billions have gotten up. according to my research, .1% of the grid comes from solar power. you think about the money that's gone in, billions, and the output. almost nothing; right? now wall street -- this is a big business issue, and what everybody is talking about is what's going to happen with the shraor industry? -- going to happen with the solar industry? what is going to happen with those jobs he said would be created and clearly the country needs jobs. >>gretchen: if we look at subsidized solar companies. unfortunately, there are a lot of them. >> this is not a good track record here. we know what the checkered past has been for president obama and his statements about the solar industry and what the subsidies are providing. the one thing i want to make mention, subsidi
cuts. they kick in automatically march 1. we'll tell you what americans find so taxing about the president's plan to fix the mess. martha: get ready for a blizzard. a winter storm historic proportions we are being told. >> now is the time before the storm hits. get your shovels ready. sand, fill your gas tanks in your cars. make sure you have enough heating fuel. you know, for at least a week. sometimes life can be well, a little uncomfortable. but when it's hard or hurts to go to the bathroom, there's dulcolax stool softener. dulcolax stool softener doesn't make you go, it just makes it easier to go. dulcolax stool softener. make yourself comfortable. martha: let's look at what's developing right now in america's newsroom. we are being told the tsunami in the pacific wiped out five villages in the solomon islands. nine bodies have been recovered so far and that number is expected to rise. a report says american airlines is ready to merge with u.s. airways. sources tell us it will happen next week. the merger could create the largest airline in the whole world. how about this
further. what we are seeing in the sluggish economy is the impact over ten years plus. two tax cuts, to wars and also the household sector has gotten overleveraged. that is beginning to heal. the problem is we are still working over the impact that has happened over the last ten-15 years. looking at the data, the recent government spending is more of a continuation of things that have been put in place, but it has to be addressed and there has to be entitlement reform and a lot of the spendings have to be addressed. i am confident there will be some action on this. dagen: we are spending an entire day talking about real estate. in terms of the burden put on government to support the market, how important is it to reform that because, again, if housing gets weak again, then now falls on uncle sam and the taxpayer? >> this is why you are not seeing the government act too quickly on fannie mae and freddie mac. they know that they have to perform, restructure and in some cases eliminate what these two entities do. they do not want to undermine the housing market because it is such a big
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